"Tesla is at a binary point on the chart. The stock is wedged tightly between the red, downward-sloping resistance line (upper boundary) and the green, upward-sloping support line (lower boundary)—the classic apex of an asymmetrical triangle.
At this stage:
A breakout above the red resistance would be a clear bullish signal, potentially starting a new upward trend.
A rejection at resistance and breakdown below the green support would signal bearish momentum, with likely downside toward lower Fibonacci levels like 272.77 or 213.97.
With price at this inflection zone, the next decisive move—either up or down—will likely define Tesla’s short-to-medium-term trend. This is a textbook example of a binary technical situation: whichever direction is confirmed next, that’s likely to dictate the coming weeks' price action." (Some help from Perplexity)
At this stage:
A breakout above the red resistance would be a clear bullish signal, potentially starting a new upward trend.
A rejection at resistance and breakdown below the green support would signal bearish momentum, with likely downside toward lower Fibonacci levels like 272.77 or 213.97.
With price at this inflection zone, the next decisive move—either up or down—will likely define Tesla’s short-to-medium-term trend. This is a textbook example of a binary technical situation: whichever direction is confirmed next, that’s likely to dictate the coming weeks' price action." (Some help from Perplexity)
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.